• AUD/USD continued its grind higher overnight, 0.6538 a new 2025 high

• Pair responded positively to news that Trump & Xi are talking constructively

• ECB cut rates 25 bps, hawkish guidance supporting EUR and pressuring USD

• Deteriorating U.S. data, debt & tariff concerns will continue impacting USD

• U.S. non-farm payrolls Fri will be crucial, Reuters poll consensus +130k

• AUD established above 0.6435 200-DMA, but requires 0.6550 break to extend

• Overnight range 0.6493-0.6538, support 0.6390 0.6355, resistance 0.6550
AUD Daily 200-DMA & Resistance Levels

(James Connell is a Reuters market analyst. The views expressed are his own.)